ABOUT THE BOOK

This book focuses on the relationships among the various types of values that are associated with Individual Life Insurance and Annuity contracts. For the student, we illustrate the dependencies that exist between premiums, policy values, reserves, dividends and other non-guaranteed elements when designing individual products. For the experienced actuary, this text provides a comprehensive summary of current actuarial practice in the design, pricing, financial reporting, regulation and daily maintenance of individual products. The book also presents material on the professionalism of the actuary including codes of conduct and standards of practice for various countries.